Debtfree Issue September 2022 DebtBusters Special Edition
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Do they use the Debt Counselling Rule Set (DCRS) when<br />
restructuring your debt?<br />
The DCRS system is the industry gold standard and benefits<br />
consumers and creditors alike: it allows unsecured debt to<br />
be repaid as quickly as possible and allows creditors certainty<br />
about the timeline of the process. In some cases, interest rates<br />
can be reduced to 0% for unsecured credit such as credit card<br />
debt, personal loans and retail loans (depending on size of<br />
debt and ability to repay). Insisting on a debt counsellor who<br />
uses DCRS ensures that as a consumer you will repay your<br />
debt as quickly as possible and will also ensure acceptance of<br />
your restructured debt proposal by the creditors.<br />
Are they able to explain the process and support you<br />
through it?<br />
A good debt counsellor should be able to clearly explain<br />
the debt counselling process and answer any questions or<br />
concerns you may have. They must manage your expectations<br />
and those of the credit providers and inform you when they<br />
need your input.<br />
They should also have sufficient resources to be able to<br />
provide advice and support throughout the process and even<br />
help you with budgeting after you’ve received your clearance<br />
certificate.<br />
It’s important that a debt counsellor has the right support<br />
framework in place to help you through the process.
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